Clearwater International UK has advised Palatine Impact (Palatine) on its significant investment in e-days, the rapidly growing provider of employee absentee management software.
Formed in 2005, e-days is a market-leading software as a service (SaaS) solution for managing, processing and tracking employee leave and absence. The tool accurately monitors, authorises and plans employee leave and sickness, analysing patterns to deliver efficiency gains across organisations. Its product is mobile friendly and suitable for all organisations, and is now used across virtually every business sector by more than 1,000 companies in 80 countries.
Palatine’s Impact Fund, a £100m investment vehicle, targets growth companies that also deliver a positive social and/or environmental impact. Partner and Head of the Impact Fund Beth Houghton and Investment Director James Gregson will join the e-days board as the business looks to develop its employee wellbeing offering.
The Clearwater International team was led by Partner Carl Houghton with support from Director Emma Rodgers and Associate Director Richard Ellis.
Steve Arnold, CEO, e-days, said: « The Palatine Impact Fund is the perfect investment partner for our fast-growing business, given the focus on positive social impact. The e-days solution has wide market appeal and already helps over 1,000 companies to better manage and track their employee leave and wellbeing. The Palatine investment will help us accelerate our market penetration, whilst continuing to enhance the product offering for the benefit of our customers and their employees.”
Beth Houghton, Partner, Palatine Impact, said: “The e-days software helps companies to enhance employee wellbeing and improve absentee rates. By analysing staff sickness data, the software helps companies to become more responsible, as well as identifying underlying trends to pre-empt future absence. e-days is exactly the type of business we set out to support with our new Impact Fund, and we look forward to working alongside the management team in the coming months.”
Carl Houghton, Partner, Clearwater International commented: “e-days has developed one of the most sophisticated pure cloud, leave and absence management systems available globally. Palatine was attracted to the huge international market potential for the business and its versatile software for all sectors. We look forward to tracking the continuing growth story of the business, with Palatine’s support.”